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Hello Traders,

Another choppy week completed. Bit of a bump in the indexes to finish the week. Nasdaq is getting a bit of a bounce off the 50-day moving average, S&P 500 is pushing up and testing the 50-day moving average from below. It’s a start, but definitely feels like there is work to still be done. Here is the gains and losses on the indexes to finish the week:

We’ve had a mild increase in net new highs on the week for the S&P 500. The advance decline line is curling higher which is positive to see. Still seeing a slight expansion in new 1 & 3 month lows. Overall not terrible, but nothing to get excited about:

Tickers:

SMH, TSM, ARLP, UHAL, AR, MCD, BYD, SQ, AI, APLD, UEC, NET, TNL, CDNS, SRUUF, KGC, CPNG, CET, GFL, GEV, VCEL

Let’s get into this weeks charts!

SMH - Semiconductor ETF: Price has closed the week over the 50-day MA and has pushed above this slanted resistance zone. Still lot’s of work to do, but a good effort so far. If this can hold the 50 day and this resistance zone, I am interested in being long.

TSM - Taiwan Semiconductor: Nice multi-month base in a strong trending name. Price bounced off the 50-day MA several times and is now testing that upper bound. On watch for a continuation to the upside.

ARLP - Alliance Resource Partners: Multi-year base with a tight consolidation just under resistance. Price started showing the first signs last week, that this may want to move higher, as it slowly starts to curl upward. High on my watch.

UHAL - U-Haul: Repeat name. This chart continues to consolidate. Pulling right back into the 50-week moving average. I’m hoping this area will be some kind of support as the 50-week slopes upward. Waiting for confirmation in the price action that this wants to start pushing upward.

AR - Antero Resources: Got a weekly close over the line to finish the week. I like this name as long as price stays above that line. Price can always trade downward and consolidate, but I would still want it to do so above the downward sloping line.

MCD - McDonalds: Year and half long base in the works. An attempt to breakout a couple months back, but quickly failed the breakout. Now price is consolidating just under the breakout level. Watching for a second breakout attempt.

BYD - Boyd Gaming: Repeat name. Massive multi-year base. Price continues to consolidate right at resistance. No idea how long this needs to consolidate, but I’m waiting for a signal that this may want to breakout.

SQ - Block: Repeat name. Price broke out of this multi-year bottoming base. Now it’s retesting the breakout level. If it holds, I’m interested in being long.

AI - C3. ai Inc: Price continues to consolidate under resistance after testing that upper level. On watch for a signal that this wants to start curling higher in anticipation of a breakout attempt out of this bottoming base.

APLD - Applied Digital Corp: Price continues to consolidate under support. Price looks to be firming up slightly, but still want to see this curl higher to get me interested. On watch for now.

UEC - Uranium Energy: Price rallied hard off the lows last week. Feels like that could be the low for this name. I want to see more then a single day rally to get me interested, but regardless, this is a good start.

NET - Cloudflare: Mutli-year bottoming base in the works. Price is testing that upper bound to close the week. Looking for a more substantial breakout over the line to get interested, but overall this chart is looking quite good right where it sits.

TNL - Travel Leisure Co.: Multi-year bottoming base in the works. After a nice breakout over resistance, price has almost pulled all the way back to it’s breakout level. If this holds, I’m interested in being long with a good risk/reward setup.

CDNS - Cadence Designs: Inverse head & shoulders pattern in the works. Price has consolidated for weeks after testing that upper bound. Now it’s pulled right back into the 50 day moving average. I like this trade idea against that 50 MA. If it can hold, I am very interested in being long.

SRUUF - Sprott Physical Uranium Trust: Shared this one last week. Rallied decently off that lower bound. As long as that lower bound holds as support I am interested in being long uranium.

KGC - Kinross Gold: Big multi-year base with a tight consolidation just under resistance. On watch for signs this wants to push over resistance and offer a breakout.

CPNG - Coupang Inc: Shared this one several weeks ago. The support line hasn’t held as hoped. However its pulling right into the 50 week MA. I’m watching this level as a potential support bounce area. If it holds, I would consider being long against that 50 week MA.

CET - Central Securities Corp: Another repeat name. Price broke out of this massive base and has fully pulled back and retested the breakout level. It’s currently acting as support and if it can continue to do so, I am interested in being long. Still would like to see a nice strong candle bouncing off this level as confirmation.

GFL - Environmental Inc: Repeat name. Mutli-year base breakout followed by a retest of the breakout level. As long as this line holds, I am interested in playing the long side. Still want to see a strong candle bounce off this level to signal its ready to start trending higher.

GEV - Vernova Inc: Really clean multi-month consolidation after making an aggressive move to the upside. This may need a longer consolidation, however, if it starts to breakout over this line, I am interested.

VCEL - Vericel Corp: This looks like it’s about to complete a massive multi-year base. Price pushed over resistance several weeks back and is tightly consolidating right above that line. Im watching for a signal this wants to push up and start the next leg higher.

Thanks for tuning in everyone. Hope you all have a solid week. See you next week!

Together We Trade